Having had my offer accepted I require leasehold conveyancing in Almondsbury. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is registered - and almost all are in Almondsbury - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just started marketing my garden apartment in Almondsbury.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two maisonettes in Almondsbury both have about forty five years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Almondsbury is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Almondsbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold house in Almondsbury. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Almondsbury with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Almondsbury can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Almondsbury state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your solicitor in advance.

I inherited a garden flat in Almondsbury, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Almondsbury with a long lease are worth £243,000. The ground rent is £50 per annum. The lease ends on 21st October 2099

With just 74 years unexpired we estimate the premium for your lease extension to range between £12,400 and £14,200 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

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Lease Extensions in Almondsbury